Mathematics, 16.10.2020 17:01, krystalhurst97

If you have $200 to invest for 10 years, would you rather invest your money in a bank that pays 7% simple interest or in a bank that pays
5% interest compounded annually? Is there anything you could
change in the problem that would make you change your answer?
a) What would happen if we changed both interest rates to 5%?
b) What would happen if we changed the time for each to 20 years?
c) What would happen if we increased the amount invested to $1,000 for
10 years?

Answers: 3

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If you have $200 to invest for 10 years, would you rather invest your money in a bank that pays 7%...